MODEL ANSWER TO FUNCTION AND USES OF STATISTICS

´   DETAILED NOTE ON FUNCTIONS AND USES OF STATISTICS

´  FUNCTIONS OF STATISTICS

´  TO PRESENT FACTS IN DEFINITE FORM:-IT PRESENT FACTS IN A PRECISE AND DEFINITE FORM AND HELP PROPER UNDERSTANDING OF WHAT IS STATED. WE SAY THAT PRICES RE CONSTANTLY INCREASING. IT DOES NOT MAKE ANY SENSE BUT WHEN WE PRICES ARE INCREASING BY 10% CONSTANTLY FROM 1995.

´  IT SIMPLIFIES MASS OF FIGURES:-STATISTICS HELP IN SIMPLIFYING COMPLEX DATA TO MAKE IT BETTER UNDERSTANDABLE. THE DATA MAY BE SUMMARIZED IN THE FORM OF TABLE,GRAPH,DIAGRAM OR AVERAGES ETC

´  IT FACILITATES COMPARISON:-AFTER SIMPLIFYING THE DATA IT CAN BE CORRELATED AND COMPARED. THE RELATIONSHIP BETWEEN THE TWO GROUPS IS BEST REPRESENTED BY CERTAIN MATHEMATICAL QUANTITIES LIKE AVERAGE,RATES,RATIOS,COEFFICIENT ETC.LIKE RATE OF PROFIT OF THIS YEAR CAN BE COMPARED WITH PREVIOUS YEARS OR WITH SOME COMPETITORS.

´  FUNCTIONS OF STATISTICS

´  FORMULATION AND TESTING HYPOTHESIS:-IT IS WITH THE HELP OF STATISTICAL TECHNIQUE WE CAN KNOW THE EFFECT OF TRAINING ON THE PRODUCTIVITY OF THE EMPLOYEE ETC

´  FORECASTING:-STATISTICS PROVIDE US THE DATA ON THE BASIS OF WHICH WE CAN PREDICT THE TREND IN FUTURE. IT HELP IN FORMULATING SUITABLE POLICIES AND PLANS FOR FUTURE. LIKE AS NUMBER OF WORKING WOMEN IS INCREASING SO THERE IS POSSIBILITY OF DEMAND OF MODERN GADGETS ETC

´  POLICY MAKING:-IT PROVIDE THE INPUTS FOR FRAMING SUITABLE POLICIES.HOW MUCH FOOD IMPORT IS REQUIRED IN 2019? DEPENDS UPON THE INTERNAL PRODUCTION IN 2019 AND LIKELY DEMAND IN 2019. THIS IS ON THE BASIS OF FORECAST THAT THE GOVERNMENT WILL FRAME THEIR POLICIES REGARDING FOOD GRAINS ETC

´  IMPORTANCE OF STATISTICS

´  SCOPE IN SOCIAL SCIENCE:-IT HELPS THE RESEARCHER TO USE THE INFORMATION IN DETAILED MANNER TO DESCRIBE AND PREDICT THE TREND AND BEHAVIORAL PATTERN WHEN QUANTITATIVE AND QUALITATIVE INFORMATION ARE USED IN SOCIAL SCIENCES.

´  SCOPE FOR EDUCATION:-MEASUREMENT AND EVALUATION ARE ESSENTIAL PART OF TEACHING LEARNING PROCESS. SCORES ARE BETTER UNDERSTOOD WITH THE HELP OF STATISTICS. IT MAKES THE TEACHING LEARNING PROCESS MORE EFFICIENT.

´  MAKES IT POSSIBLE TO FIND OUT THE BEST POSSIBLE SOLUTION TO A PROBLEM.

´  SCOPE FOR COMMERCE:-IT HELPS IN HANDLING THE FUNDS PROPERLY AND ALSO STUDY THE COST AND BENEFIT ANALYSIS TO TAKE IMPORTANT DECISIONS REGARDING BEST OPTION OF MAKING INVESTMENT,MOBILIZING FINANCIAL ASSETS ETC.

´  STATISTICS AND THE BUSINESS:-HELPS IN FRAMING SUITABLE POLICIES IN PRODUCTION,INVESTMENT,MARKETING,STAFFING ETC BY PROVIDING DATA

´  STATISTICS AND ECONOMICS:-PROF ALFRED MARSHALL IN THE YEAR 1890 OBSERVED THAT” STATISTICS ARE THE STRAW OUT OF WHICH I LIKE EVERY ECONOMICS HAVE TO MAKE BRICKS” THIS STATEMENT SUMS UP THE SIGNIFICANCE OF STATISTICS IN ECONOMICS. EVERY BRANCH OF ECONOMICS TAKES SUPPORT FROM STATISTICS IN ORDER TO PROVE VARIOUS ECONOMICS THEORIES IN IT. LIKE WE WANT TO STUDY THE CONSUMPTION PATTERN OF THE CONSUMERS.WE HAVE TO COLLECT THE INFORMATION FROM THE CONSUMERS.

´  STATISTICS AND THE STATE:- STATISTICS WAS DEVELOPED AS SCIENCE OF KING OR KINGS. MODERN STATES BEING WELFARE ORIENTED STATES COLLECT THE DATA TO FRAME SUITABLE POLICIES FOR THE WELFARE OF POLICIES.